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Article: Fund Flows: Bond Funds Profit From Lagging Money Market Vehicles.
- Article from:
- The Bond Buyer
- Article date:
- March 1, 2002
- Author:
CopyrightCOPYRIGHT 2002 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Municipal bond funds are proving an attractive alternative to the record low yields available on money market funds.
The bond funds had a net inflow of $1.46 billion in January, pushing their total assets to $300 billion, according to the Investment Company Institute. Almost half of that new cash went specifically into short-term bond funds, which had a net inflow of $709 million, according to ICI.
And while tax-free money market fund flows have fallen off sharply in February, mutual fund complexes report a continuous strong demand for short and short-intermediate municipal bond funds.
Tax-free money market funds' net inflows for the week ended ...